India’s benchmark Nifty has formed an ascending triangle in the daily charts. In today’s trading, the index faced resistance around 10900 approx.
Put buying was witnessed around 10880 approx, and the index scaled down to today’s range low of 10830 approx. Going forward the market is likely to find support around tomorrows range low and the upside target for the index is around 10906 approx.
The Outlook for 11th January 2019
Nifty Daily Chart Levels
In today’s trading, Nifty Future faced resistance around 10900 approx. Put options buying was witnessed around 10880 approx. The index has formed an ascending triangle in the daily charts due to which overall market movement has gradually been shrinking in the last couple of sessions.
Going forward, Nifty is likely to find support around tomorrows range support and the nearest upside target for the index will be 10906 approx.
Nifty Hourly Chart Levels
In the hourly session, Spot Nifty has closed around 10821 approx. The index is likely to find resistance around 10848 approx. The nearest downside target is around 10785 approx. However, if Nifty trades below 10785, it will scale down to 10730 approx.
Bank Nifty Options Data
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